The company has developed a number of different services that are offered to businesses worldwide

One is brand protection, which uses laser technology to brand a variety of materials for companies who are at risk of copyright theft through piracy or counterfeit fraud.

Another service exploits what Mr Smith describes as a huge gap between the innovation and marketing fields.

He said, "I had a burning ambition to do what the industry was failing to do.

"There are many companies in the country developing innovative and exciting products, but they have no idea how to access the market for which they were intended.

"Academics don't always have the experience to market their innovations and it was our desire to bridge that divide and develop partnerships capable of developing and commercialising these innovations."

Swansea council leader, Lawrence Bailey, said, "Technium has been a huge success for young, innovative companies to find their way. This sort of success will boost the economies of Swansea and Wales."